# Demographics -> Labor Productivity (Log GDP per capita PPP)

| Variable | M1: Z only | M2: Z + controls | M3: Z x KAOPEN |
|:---|---:|---:|---:|
| Z_1 | 1.6394*** | 1.6763*** | 1.5662*** |
| | (0.2586) | (0.2401) | (0.2440) |
| Z_2 | -0.0964** | -0.0982*** | -0.0770** |
| | (0.0386) | (0.0364) | (0.0372) |
| Z_3 | 0.0017 | 0.0011 | 0.0001 |
| | (0.0016) | (0.0015) | (0.0015) |
| fiscal_bal_gdp | | 0.0005** | 0.0005** |
| | | (0.0002) | (0.0002) |
| nfa_gdp_lag | | 0.0039* | 0.0040* |
| | | (0.0021) | (0.0021) |
| rgdp_growth | | 0.0024*** | 0.0024*** |
| | | (0.0001) | (0.0001) |
| log_rel_opw | | 0.3048*** | 0.3054*** |
| | | (0.0089) | (0.0089) |
| kaopen | | 0.0130*** | 0.0258*** |
| | | (0.0023) | (0.0037) |
| Z_1_x_kaopen | | | 0.0170 |
| | | | (0.0965) |
| Z_2_x_kaopen | | | -0.0082 |
| | | | (0.0147) |
| Z_3_x_kaopen | | | 0.0005 |
| | | | (0.0006) |
|:---|---:|---:|---:|
| N | 6553 | 4165 | 4165 |
| R² | 0.6184 | 0.8195 | 0.8186 |
| Countries | 189 | 162 | 162 |

*Panel GLS with country and year fixed effects. Standard errors in parentheses.*
*\*p<0.1, \*\*p<0.05, \*\*\*p<0.01*